DAVENPORT & Co LLC cut its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,911 shares of the company's stock after selling 293 shares during the period. DAVENPORT & Co LLC's holdings in DocuSign were worth $569,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. KCM Investment Advisors LLC boosted its position in shares of DocuSign by 4.0% during the fourth quarter. KCM Investment Advisors LLC now owns 2,421 shares of the company's stock valued at $369,000 after buying an additional 92 shares during the last quarter. HM Payson & Co. lifted its holdings in DocuSign by 102.8% in the fourth quarter. HM Payson & Co. now owns 217 shares of the company's stock valued at $33,000 after acquiring an additional 110 shares during the period. Tennessee Valley Asset Management Partners lifted its holdings in DocuSign by 6.3% in the first quarter. Tennessee Valley Asset Management Partners now owns 1,993 shares of the company's stock valued at $213,000 after acquiring an additional 118 shares during the period. Lindbrook Capital LLC lifted its holdings in DocuSign by 25.9% in the first quarter. Lindbrook Capital LLC now owns 628 shares of the company's stock valued at $67,000 after acquiring an additional 129 shares during the period. Finally, CWM LLC lifted its holdings in DocuSign by 2.0% in the first quarter. CWM LLC now owns 6,941 shares of the company's stock valued at $743,000 after acquiring an additional 137 shares during the period. 76.18% of the stock is owned by hedge funds and other institutional investors.
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Analysts Set New Price Targets
A number of research analysts have weighed in on DOCU shares. Wolfe Research increased their target price on DocuSign from $50.00 to $53.00 and gave the company an "underperform" rating in a report on Monday, September 12th. UBS Group cut their target price on DocuSign from $70.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, August 30th. Piper Sandler cut DocuSign from a "neutral" rating to an "underweight" rating and cut their target price for the stock from $65.00 to $54.00 in a research report on Wednesday, July 20th. Royal Bank of Canada cut their target price on DocuSign from $65.00 to $55.00 in a research report on Thursday. Finally, Wells Fargo & Company increased their target price on DocuSign from $63.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, September 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $64.38.
DocuSign Price Performance
Shares of DocuSign stock opened at $53.47 on Friday. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of -99.02 and a beta of 1.23. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average price of $62.11 and a 200-day moving average price of $74.21. DocuSign, Inc. has a one year low of $51.12 and a one year high of $288.50.
DocuSign (NASDAQ:DOCU – Get Rating) last announced its earnings results on Thursday, September 8th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. The firm had revenue of $622.18 million during the quarter, compared to analysts' expectations of $602.25 million. DocuSign had a negative return on equity of 21.74% and a negative net margin of 4.65%. The company's quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. Equities analysts expect that DocuSign, Inc. will post -0.45 EPS for the current year.
About DocuSign
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DocuSign, Inc provides electronic signature software in the United States and internationally. The company provides e-signature solution that enables businesses to digitally prepare, sign, act on, and manage agreements. It also offers CLM, which automates workflows across the entire agreement process; Insights that use artificial intelligence (AI) to search and analyze agreements by legal concepts and clauses; Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce; Negotiate for Salesforce that supports for approvals, document comparisons, and version control; Analyzer, which helps customers understand what they're signing before they sign it; and CLM+ that provide AI-driven contract lifecycle management.
Further Reading
- Get a free copy of the StockNews.com research report on DocuSign (DOCU)
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